+
 MaxVIL leases 1.05 lakh sq ft space at Rs 16 cr annual rent in Delhi
Real Estate

MaxVIL leases 1.05 lakh sq ft space at Rs 16 cr annual rent in Delhi

Max group company Max Ventures & Industries Ltd (MaxVIL) has entirely leased 1.05 lakh square feet space in its office complex at Okhla in the national capital and will make a rental income of about Rs 16 crore annually.

MaxVIL, which is one of the three listed firms of the $ 4-billion Max Group, told the media in a statement that the first phase of its commercial project 'Max House', including 1.05 lakh sq ft, is presently 100% leased out to big domestic and international clients. Max House is the firm's second commercial real estate offering by Max Estates, which is a subsidiary of MaxVIL.

The average rental rate for Max House Phase 1 presently stands at about Rs 125 per sq ft per month. Nykaa Fashion, Samsung India Electronics, Religare Enterprises, DSK Legal and Dhampur Sugar Mills are some of the significant occupiers. US-based retail company Target Sourcing Services India Pvt Ltd has taken on a lease of 26,608 sq ft at Max House. The lease with Target Sourcing has been listed on Tuesday. MaxVil MD and CEO Sahil Vachani told the media that there is an increasing trend of flight to quality, with top-notch firms boosting to Grade A+ spaces post the pandemic.

The firm's first commercial project 'Max Towers' in Noida, is additionally 98% leased, Vachani added. MaxVIL said the work on the second phase of Max House, including 1.45 lakh sq ft, is on track, and the project is likely to be provided by Q3 of FY23. Max Estates has partnered with New York Life Insurance Company for its third commercial project in Delhi-NCR named Max Square.

Image Source

Also read: Construction of Rs 400 cr Max Square begins in Noida

Max group company Max Ventures & Industries Ltd (MaxVIL) has entirely leased 1.05 lakh square feet space in its office complex at Okhla in the national capital and will make a rental income of about Rs 16 crore annually. MaxVIL, which is one of the three listed firms of the $ 4-billion Max Group, told the media in a statement that the first phase of its commercial project 'Max House', including 1.05 lakh sq ft, is presently 100% leased out to big domestic and international clients. Max House is the firm's second commercial real estate offering by Max Estates, which is a subsidiary of MaxVIL. The average rental rate for Max House Phase 1 presently stands at about Rs 125 per sq ft per month. Nykaa Fashion, Samsung India Electronics, Religare Enterprises, DSK Legal and Dhampur Sugar Mills are some of the significant occupiers. US-based retail company Target Sourcing Services India Pvt Ltd has taken on a lease of 26,608 sq ft at Max House. The lease with Target Sourcing has been listed on Tuesday. MaxVil MD and CEO Sahil Vachani told the media that there is an increasing trend of flight to quality, with top-notch firms boosting to Grade A+ spaces post the pandemic. The firm's first commercial project 'Max Towers' in Noida, is additionally 98% leased, Vachani added. MaxVIL said the work on the second phase of Max House, including 1.45 lakh sq ft, is on track, and the project is likely to be provided by Q3 of FY23. Max Estates has partnered with New York Life Insurance Company for its third commercial project in Delhi-NCR named Max Square. Image Source Also read: Construction of Rs 400 cr Max Square begins in Noida

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?